TRON (TRX): Justin Sun gives update on SUN token distribution

  • Regarding TRON’s DeFi, Justin Sun announced a new distribution program for the SUN token.
  • TRONScan is registering 21 million allocated TRX in TRON’s DeFi sector.

In his infamous manner, TRON CEO Justin Sun has made an announcement about a new strategy for TRON’s DeFi sector. In recent weeks, Sun has used this strategy several times to create a hype for new products and protocols introduced to TRON’s DeFi sector. The primary goal has always been to highlight the advantages of TRON over its currently overpowering competitor, Ethereum.

In its latest announcement, Sun has now informed the TRON community that there is a change in plan for the distribution of the SUN token. According to the announcement, the SUN token will be distributed before the originally planned date.

We will distribute $SUN to the community earlier than planned…When $SUN? When Moon? to be announced soon!

TRON DeFi continues to grow, a serious Ethereum competitor?

As reported by CNF, SUN and its platform allow its users to do yield farming. Since its launch, according to data shared by TRON’s CEO from the platform TRONScan, the platform has received a total of 21,316,997 TRX locked with 124,086 active smart contracts and a total of 9.2 million accounts.

Users who wish to obtain SUN have to log in to the official website with their TronLink wallet. Once there they can do yield farming by staking a number of TRX. They can then receive SUN tokens in a quantity proportional to the TRX they have staked. In the current period, known as Genesis Mining, 1,860,602 SUN tokens can be mined. However, the token will have a total supply of 19,900,730. Therefore, those who staked the token early will receive greater rewards.

The TRON community has welcomed Sun’s announcement and is awaiting future announcements for more information. Meanwhile, TRON’s CEO reported some days ago on a strategic partnership with the Band protocol to incorporate the oracle services into TRON’s DeFi sector.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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